Journalise the following transactions and prepare ledger accounts in the books of Sanjeev.
2019 June
1. Cash received from Raju Rs.10,000 for commission.
3. Intra-state sale to Rakesh Rs.3,000 and SGST @2.5% and CGST @2.5% applicable.
5. Received full amount from Rakesh.
8. Intra-state purchase from Mangesh Rs.2,000 and SGST @2.5% and SGST @2.5% applicable.
11. Paid the necessary amount to Mangesh.
18. Paid Rent Rs.2,500.
24. Paid mobile bill Rs.1,000 out of which Rs.700 for office use and for Rs.300 for personal use.
Solution:
Journal Entry.
Date
Particulars
L.F
Debit
Credit
2019 June 1
Cash A/c Dr.
To Commission A/c
[ Being Commission received from Raju in cash]
10,000
10,000
3
Rakesh A/c Dr.
To Sales A/c
To Output SGST A/c
To Output CGST A/c
[Being Sold goods to Rakesh @5% GST]
3,150
3,000
75
75
5
Cash A/c Dr.
To Rakesh A/c
[Being cash received from Rakesh]
3,150
3,150
8
Purchase A/c Dr.
Input SGST A/c Dr.
Input CGST A/c Dr.
To Mangesh A/c
[Being Purchase goods from Mangesh @5% GST]
2,000
50
50
2,100
11
Mangesh A/c Dr.
To Cash A/c
[Being Paid cash to Mangesh]
2,100
2,100
18
Rent A/c Dr.
To Cash A/c
[Being Rent paid]
2,500
2,500
24
Mobile Charges A/c Dr.
Drawings A/c Dr.
To Cash A/c
[Being Paid Mobile bill for office use and for personal use]
700
300
1,000
In the books of Sanjeev.
Cash Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019 June 2
To Commission A/c
10,000
2019 June 11
By Mangesh A/c
2,100
5
To Rakesh A/c
3,150
18
By Rent A/c
2,500
24
By Mobile Charge A/c
700
24
By Drawings A/c
300
30
By Balance c/d
7,550
13,150
13,150
July 1
To Balance b/d
7,550
Rakesh Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019 June 3
To Sales A/c
3,150
2019 June 5
By Cash A/c
3,150
3,150
3,150
Commission Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019 June 1
By Cash A/c
10,000
30
To Balance b/d
10,000
10,000
10,000
July 1
By Balance c/d
10,000
Output SGST Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019
June 3
To Sales A/c
75
30
By Balance c/d
75
75
75
July 1
To Balance b/d
75
Output CGST Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019June 3
To Sales A/c
75
30
By Balance c/d
75
75
75
July 1
To Balance b/d
75
Sales Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019 June 3
By Rakesh A/c
3,000
30
To Balance b/d
3,000
3,000
3,000
July 1
By Balance c/d
3,000
Purchase Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
2019 June 8
To Mangesh A/c
2,000
30
By Balance c/d
2,000
2,000
2,000
July 1
To Balance b/d
2,000
Input SGST Account
Date
Particulars
J.F
Amt
Date
Particulars
J.F
Amt
June 2019 8
To Mangesh A/c
50
30
By Balance c/d
50
50
50
July 1
To Balance b/d
2019 June
1. Cash received from Raju Rs.10,000 for commission.
3. Intra-state sale to Rakesh Rs.3,000 and SGST @2.5% and CGST @2.5% applicable.
5. Received full amount from Rakesh.
8. Intra-state purchase from Mangesh Rs.2,000 and SGST @2.5% and SGST @2.5% applicable.
11. Paid the necessary amount to Mangesh.
18. Paid Rent Rs.2,500.
24. Paid mobile bill Rs.1,000 out of which Rs.700 for office use and for Rs.300 for personal use.
Solution:
Journal Entry.
Date | Particulars | L.F | Debit | Credit |
2019 June 1 | Cash A/c Dr. To Commission A/c [ Being Commission received from Raju in cash] |
| 10,000 |
10,000 |
3 | Rakesh A/c Dr. To Sales A/c To Output SGST A/c To Output CGST A/c [Being Sold goods to Rakesh @5% GST] |
| 3,150 |
3,000 75 75 |
5 | Cash A/c Dr. To Rakesh A/c [Being cash received from Rakesh] |
| 3,150 |
3,150 |
8 | Purchase A/c Dr. Input SGST A/c Dr. Input CGST A/c Dr. To Mangesh A/c [Being Purchase goods from Mangesh @5% GST] |
| 2,000 50 50 |
2,100 |
11 | Mangesh A/c Dr. To Cash A/c [Being Paid cash to Mangesh] |
| 2,100 |
2,100
|
18 | Rent A/c Dr. To Cash A/c [Being Rent paid] |
| 2,500 |
2,500 |
24 | Mobile Charges A/c Dr. Drawings A/c Dr. To Cash A/c [Being Paid Mobile bill for office use and for personal use] |
| 700 300 |
1,000 |
In the books of Sanjeev.
Cash Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
2019 June 2 | To Commission A/c |
| 10,000 | 2019 June 11 | By Mangesh A/c |
| 2,100 |
5 | To Rakesh A/c |
| 3,150 | 18 | By Rent A/c |
| 2,500 |
|
|
|
| 24 | By Mobile Charge A/c |
| 700 |
|
|
|
| 24 | By Drawings A/c |
| 300 |
|
|
|
| 30 | By Balance c/d |
| 7,550 |
|
|
| 13,150 |
|
|
| 13,150 |
July 1 | To Balance b/d |
| 7,550 |
|
|
|
|
Rakesh Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
2019 June 3 | To Sales A/c |
| 3,150 | 2019 June 5 | By Cash A/c |
| 3,150 |
|
|
|
|
|
|
|
|
|
|
| 3,150 |
|
|
| 3,150 |
Commission Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
|
|
|
| 2019 June 1 | By Cash A/c |
| 10,000 |
30 | To Balance b/d |
| 10,000 |
|
|
|
|
|
|
| 10,000 |
|
|
| 10,000 |
|
|
|
| July 1 | By Balance c/d |
| 10,000 |
Output SGST Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
2019 June 3 | To Sales A/c |
| 75 |
|
|
|
|
|
|
|
| 30 | By Balance c/d |
| 75 |
|
|
| 75 |
|
|
| 75 |
July 1 | To Balance b/d |
| 75 |
|
|
|
|
Output CGST Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
2019June 3 | To Sales A/c |
| 75 |
|
|
|
|
|
|
|
| 30 | By Balance c/d |
| 75 |
|
|
| 75 |
|
|
| 75 |
July 1 | To Balance b/d |
| 75 |
|
|
|
|
Sales Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
|
|
|
| 2019 June 3 | By Rakesh A/c |
| 3,000 |
30 | To Balance b/d |
| 3,000 |
|
|
|
|
|
|
| 3,000 |
|
|
| 3,000 |
|
|
|
| July 1 | By Balance c/d |
| 3,000 |
Purchase Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
2019 June 8 | To Mangesh A/c |
| 2,000 |
|
|
|
|
|
|
|
| 30 | By Balance c/d |
| 2,000 |
|
|
| 2,000 |
|
|
| 2,000 |
July 1 | To Balance b/d |
| 2,000 |
|
|
|
|
Input SGST Account
Date | Particulars | J.F | Amt | Date | Particulars | J.F | Amt |
June 2019 8 | To Mangesh A/c |
| 50 | 30 | By Balance c/d |
| 50 |
|
|
| 50 |
|
|
| 50 |
July 1 | To Balance b/d |